The impact of Russia‘s economic crisis on Azerbaijan
By Nadir Allahverdiyev
Senior Researcher
CESD
Hardly anyone could expect a 33,4% devaluation of the Azerbaijani Manat by the Central Bank in one night. Officials explain that decision with the low oil prices and the “current global economic crisis”. Of course, this may increase ‘manat flow’ into the state budget, which was calculated based on an oil price of $90 per barrel, and 1 USD/AZN... Read More